Hopes dashed at Wilsons
Despite hopes being raised at the end of last year that a turnaround was on the horizon for US leather outerwear retailer Wilsons The Leather Experts Inc. when the company reported improved sales after months and months of declines, the retailer has once again reported further decreases for December.
Sales fell to $65.9 million for the five weeks ended January 5, down 13% compared with the $75.7 million reported for the same period in the previous year. Year-to-date sales also fell at a similar rate, slipping 12.5% to $258.5 million from $295.5 million.
Michael Searles, chief executive stated: "After a strong Thanksgiving start, both traffic and comparable store sales for the first three weeks of December declined in the high teens. The last two weeks of December saw a significant rebound in traffic and, as a result, comparable store sales averaged an increase of over 25% in the final two weeks. This was a result of both the calendar shift and significantly increased traffic and conversion in our stores. The first week of January has started off strong as well."
Wilsons sells leather outerwear, accessories and apparel through its 411 stores across the USA.
